It certainly doesn't!
Liberal leader Sir William McMahon resigned on the next day on 5th December, 1972. His party lost the Federal election to
Labor and the New Prime Minister Gough Whitlam after 23 years of Liberal rule. Sir Billy Sneddon succeeded him as Liberal leader.
John Grey Gorton had preceeded him as Prime Minister. Although at this stage the mood of dismay was palpable
Sir William retired to the back bench and served in Parliament until 1982.
NB: Cartoonists had found Sir William 'Billy' McMahon to be a wonderful and receptive subject to caricature.
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